The Compliance Committee is a standing committee responsible for ensuring that the Bank continues to conduct its operations and activities ethically with the highest level of integrity and in compliance with all legal and regulatory requirements. It oversees the development, and monitoring of national and international practices intended to satisfy the bank’s compliance obligations and to foster a compliance culture with laws, regulations, sector standards, and the bank’s internal policies and procedures.

Committee’s Main Roles and Responsibilities
☑  The committee shall periodically review and approve the Bank’s AML/CFT Policy and manuals.
☑  The committee shall assess the AML/CFT Framework for money laundering/financing terrorism risk.
☑  Oversee the implementation of the AML/CFT policy and procedures.
☑  Ensure the adequacy and effectiveness of policies and programs to ensure the bank’s compliance with laws and regulations applicable to the business and any or all associated risks.
☑  Approve a dedicated budget for AML/CFT compliance training programs on an annual basis.
☑  On a yearly basis, review and approve compliance action plans.
☑  Periodically review and approve the compliance department organizational chart to ensure adequate staff are avaliable for effective functional performance.
☑  Review and approve corrective action plans as per regulatory AML/CFT findings.
☑  Appointment and dismissal of the Chief Compliance Officer.
☑  Ensure the compliance function has adequate and effective technology to strengthen the anti-money laundering and terrorist financing program within the bank.
☑  Ensure the AML/CFT program of the bank is independently tested by a third party periodically.

Members
☑  Dr Ahmad Khalid Hatam
☑  Mr Hamid Nooryar